The acquisition is a continuation of the cooperation
established between the two companies when DFDS Tor Lines
purchased a 66% shareholding in DFDS Lys-Line Rederi AS on
1 January 2002. The parties have agreed not to disclose the
price. The remaining 34% shareholding in Lys-Line AS continues
to be owned by the Simonsen family, which also holds 34% of
the shares in DFDS Lys-Line Rederi AS. Since its inception in 1970, Lys-Line AS has been an
important business partner for Norwegian industry in
particular. The company operates liner sevices in the North
Sea, with routes between Norway and Germany, the
Netherlands, Belgium and the UK. Lys-Line AS operates other
liner routes to Ireland and Spain and freight activities to
Portugal and the Mediterranean region. The liner services of Lys-Line AS are operated by 17
ships, all contracted on a time-charter basis from DFDS
Lys-Line Rederi AS. The company has a large modern
container fleet at its disposal, and its annual turnover is
in the region of NOK 760 million. The organization employs
a staff of 156, of whom 55 are based in the Oslo
headquarters. Lys-Line AS has subsidiaries in Sweden,
the Netherlands, Belgium and the UK. In May, Lys-Line AS and DFDS Tor Line AS entered into a
significant freight agreement with Norske Skogindustrier
ASA, which will run until the end of 2009. The agreement
concerns the transport of paper from Norway to Germany, the
Netherlands, Belgium, the UK, Ireland, Spain and the
Mediterreanean region. An important element of the
agreement is the establishment this month by Lys-Line AS of
a new route from Skogn (Trondheim) to the Continent and
Tilbury in the UK. Another element of the agreement is the
27.10 m extension of the sideport-/container vessel m.s.
LYSBLINK, which will increase the ship’s capacity by 50%.
The ship will enter service on the Skogn route at the end
of 2003. The share acquisition will underpin development
opportunities for Lys-Line and DFDS Tor Line in Northern
Europe, with particular focus on creating efficient sea
transport solutions based on both sideport-/container
vessels and ro-ro ships. The acquisition is not expected to affect the profit for
2003 for the DFDS Group. For further information, please contact Ole Frie,
direct telephone +45 3342 3400. |